The company's revenue from operations stood at Rs111.0cr as against Rs102.3cr, a growth of 8.5% YoY, however considering the impact of the shift in revenue of Rs7cr from Q4FY20 to Q1FY21, the revenue growth would be 16.5% YoY.
Hitesh Windlas, Managing Director – Windlas Biotech said, “The company registered a revenue growth of 17% in YoY, driven by volume growth in chronic and covid-19 related therapies in the CDMO segment, in spite of facing multiple 2nd wave of covid-19 related disruptions. The growth trajectory in the CDMO segment is expected to accelerate further in the upcoming quarters underpinned by strong demand, a growing customer base and increasing CDMO products offering."
Windlas added, "Domestic Trade Generics and OTC segment revenue stood at Rs12.3 for the quarter. This segment contributed 11% to the consolidated revenue for the quarter. The company is focussing to increase stockists & distributors networks coupled with the increasing number of brands. The company is expecting robust growth in this segment, driven by the Government’s push for schemes such as JanAushadhi Yojana, etc. and rising preference to quality branded generics."
Going forward, Windlas said that "we remain confident of overcoming the near-term challenges. The company, which is one of the top 5 domestic CDMO players in terms of revenue continues to leverage its strong position to diversify, value-add and expand the value proposition. The growth trajectory is expected to be robust, driven by robust demand, capacity expansion, and a growing customer base."
Komal Gupta, CFO - Windlas Biotech said “The company has made repayment of Rs20cr loans in August 2021 from the IPO proceeds, further strengthening the company’s balance sheet. The company has utilized Rs45cr from the IPO proceeds for the various activities mentioned in the RHP out of Rs153.3cr, roughly translating into 29% IPO proceeds utilization. The company is planning to utilize the entire proceeds by Dec 2022, which will further strengthen the company’s value proposition while maintaining the strong balance sheet.”
At around 1.20 pm, Windlas was trading at Rs388.50 per piece down 1.9% on Sensex.